March 31 (Reuters) - Magellan Midstream Partners LP said on Monday it plans to construct a facility to process condensate, a very light form of crude oil, at its terminal in Corpus Christi in Texas with commodity trader Trafigura AG .

The splitter, or a very basic distillation tower which will give condensate a minimal level of processing, will be capable of processing 50,000 barrels per day (bpd) of condensate.

Without processing, condensate is considered crude oil under U.S. law and therefore cannot be exported.

Magellan said it expects the condensate splitter and related infrastructure to cost about $250 million. (Reporting by Ashutosh Pandey and Swetha Gopinath in Bangalore; Editing by Maju Samuel)